RATE Group | US to strictly enforce anti-money laundering rules in cryptocurrencies: FinCEN chief
68743
post-template-default,single,single-post,postid-68743,single-format-standard,ajax_fade,page_not_loaded,,qode_grid_1300,side_area_uncovered_from_content,footer_responsive_adv,qode-content-sidebar-responsive,qode-child-theme-ver-1.0.0,qode-theme-ver-13.3,qode-theme-bridge,wpb-js-composer js-comp-ver-7.9,vc_responsive
 

US to strictly enforce anti-money laundering rules in cryptocurrencies: FinCEN chief

15 Nov US to strictly enforce anti-money laundering rules in cryptocurrencies: FinCEN chief

Posted at 20:26h in Cryptocurrency News by

[ad_1]

NEW YORK: The U.S. government will strictly enforce a rule that requires cryptocurrency firms engaged in money service businesses such as digital asset exchanges and wallet service providers to share information about their customers, Kenneth Blanco, director of the Financial Crimes Enforcement Network (FinCEN), said on Friday

Part of anti-money laundering regulations, the “travel rule” requires cryptocurrency exchanges to verify their customers’ identities, identify the original parties and beneficiaries of transfers US$3,000 or higher, and transmit that information to counterparties if they exist.

“It (travel rule) applies to CVCs (convertible virtual currencies) and we expect that you will comply period,” Blanco said at a conference hosted by Chainalysis, a New York-based blockchain analysis company.

“That’s what our expectation is. You will comply. I don’t know what the shock is. This is nothing new,” he added.

The U.S….

[ad_2]

Source link

Tags:
, , , , , , ,